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Mortgage Rates Reach 'New' Record Lows This Week

Posted by Michael Gerrity 07/30/10 8:00 AM

According to Freddie Mac's (OTC: FMCC) latest Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgages reached news record lows this week. This week's rate is the lowest since they began recording rates in 1971. Read More
Freddie Mac Reports Cash-In Refinancings Jumped to 22% in Second Quarter

Posted by Michael Gerrity 07/29/10 9:53 AM

Frank Nothaft According to a new report this week from Freddie Mac (OTC: FMCC), cash-out refinancing rose in the second quarter of 2010.Frank Nothaft, Freddie Mac vice president and chief economist stated, "Interest rates on fixed-rate mortgages are at 50-year... Read More
Florida, California, Nevada and Arizona Still Lead Nation in Year-to-date Foreclosures

Posted by Alex Finkelstein 07/29/10 8:00 AM

The melody is unending - Florida, California, Nevada and Arizona continued to lead the nation in most residential foreclosures from January through June of this year. Read More
Mortgage Applications Down This Week, Says MBA

Posted by Michael Gerrity 07/28/10 8:22 AM

According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending July 23, the Market Composite Index decreased 4.4 percent on a seasonally adjusted basis from one week earlier. Read More
HOA Foreclosures; Necessary Tool or Extortion Racket?

Posted by Keith Jurow 07/28/10 8:00 AM

In 2000, an 81-year old widow named Wenonah Blevins had fallen behind by $814.50 on homeowners association (HOA) assessments in her Houston, TX subdivision. Read More
The U.S. Market Needs to Embrace Diminished Housing Expectations

Posted by Kevin Brass 07/27/10 2:45 PM

(AUSTIN, TX) -- Even the relentlessly upbeat National Association of Realtors (NAR) couldn't put a happy face on this past week's housing report, Read More
U.S. Home Prices Remain Relatively Flat in 2010, Says Latest Case-Shiller Home Price Index

Posted by Michael Gerrity 07/27/10 11:15 AM

According to Standard & Poor's S&P/Case-Shiller Home Price Indices, the annual growth rates in 15 of the 20 MSAs ... Read More
U.S. Home Builders Get Some Good News Today, New Home Sales Were Up in June

Posted by Michael Gerrity 07/26/10 1:30 PM

The National Association of Home Builders got some much needed good news today from the U.S. government. Coming off an historic low in May, sales of newly built, Read More
U.S. Government Reports Annualized 'New Home Sales' Rate for June is 330,000 Units, a 23% Increase Over May

Posted by Michael Gerrity 07/26/10 12:58 PM

According to data from according to the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new single-family houses in June 2010 were at a seasonally adjusted annual rate of 330,000. Read More
South Beach Condo Sales up 200% in Q-2, Prices Holding Firm at $1,365 a Square Foot

Posted by Michael Gerrity 07/26/10 12:53 PM

(MIAMI, FL) -- According to a new Condo Vultures report, South Beach new condo sales doubled ... Read More
'The Hamptons' Home Sales Spike 89.6% Year-over Year in Q2

Posted by Michael Gerrity 07/23/10 8:30 AM

According to a new report released this week by Prudential Douglas Elliman, price indicators rose as number of sales increased sharply in the Hamptons and Northfork real estate markets in the 2nd quarter of 2010. Read More
Florida's Existing Home Sales Rise 15% in June, Median Price Rise 2.1%

Posted by Michael Gerrity 07/22/10 4:53 PM

(ORLANDO, FL) -- Sales of existing homes in Florida rose 15 percent in June, marking 22 consecutive months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors. Read More
New York State Reports Strong Q2 Home Sales

Posted by Michael Gerrity 07/22/10 4:34 PM

According to preliminary single-family sales data accumulated by the New York State Association of Realtors (NYSAR), the New York state housing market continued its strong start to 2010 as second quarter sales, Read More
California's Median Home Price Jumps 13.6% in June, Sales Dip 4.2%

Posted by Michael Gerrity 07/22/10 4:30 PM

According to the California Association of Realtors (CAR), existing home sales decreased 4.2 percent in June in California compared with the same period a year ago, while the median price of an existing home rose 13.6 percent.Quick Facts:Existing, single-family home... Read More
Long-term Mortgage Rates Reach New Record Lows, Says Freddie Mac

Posted by Michael Gerrity 07/22/10 4:14 PM

According to Freddie Mac (OTC:FMCC) latest Primary Mortgage Market Survey (PMMS), the 30-year and 15-year fixed-rate mortgages reached record lows not seen since the survey began in 1971. Read More
Existing Home Sales Drop 5.1% in June, Home Inventory Rises 2.5%

Posted by Michael Gerrity 07/22/10 10:13 AM

According to the National Association of Realtors (NAR), existing-home sales slowed in June due to the ending of the federal home buyer tax credit program. Read More
Downtown Miami Enjoys 103% Year-over-year Increase in Condo Sales in Q2

Posted by Michael Gerrity 07/21/10 12:11 PM

(MIAMI, FL) -- Condo Vultures reports this week that an average of nearly 500 new condos traded per month in Greater Downtown Miami ... Read More
Low Interest Rates Drive Increased Mortgage Refi Applications

Posted by Michael Gerrity 07/21/10 8:59 AM

According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending July 16, ... Read More
Marilyn Monroe House Up for Sale

Posted by Kevin Brass 07/21/10 8:00 AM

The only home Marilyn Monroe ever owned, where she was found dead on Aug. 5, 1962, is on the market. The Spanish colonial house, built in 1929, is located on a secluded cul-de-sac in the Los Angeles suburb of Brentwood, Read More
S&P Index Reports Decline in Consumer Default Rates for June 2010, Mortgages Lead Pack

Posted by Michael Gerrity 07/20/10 2:10 PM

Data through June 2010, released today by Standard & Poor's and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, show that the monthly default rates declined for all five credit lines.... Read More
U.S. Government Reports No Change in New Home Construction Numbers for June

Posted by Michael Gerrity 07/20/10 2:08 PM

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for June 2010:BUILDING PERMITSPrivately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of... Read More
Mortgage Banker's Profits Dip in Q-1, Says New MBA Report

Posted by Michael Gerrity 07/20/10 2:04 PM

According to the Mortgage Bankers Association's (MBA) first quarter 2010 Mortgage Bankers Production Survey released today, independent mortgage bankers and subsidiaries made an average profit of $606 on each loan they originated in the first quarter of 2010, down from... Read More
Single-Family Housing Starts Dip 5% in June

Posted by Michael Gerrity 07/20/10 1:35 PM

According to newly released figures today by the U.S. Commerce Department , single-family housing starts were virtually unchanged from the previous month at a seasonally adjusted annual rate of 454,000 units in June. Read More
Why Are Banks Withholding Highend Repossessions Over $300,000 From the Market?

Posted by Keith Jurow 07/20/10 8:00 AM

With the expiration of the first-time buyer tax credit on April 30, there are now two main props keeping the housing market afloat. One is the growing percentage of home sales financed by Federal Housing Administration (FHA) loan guarantees. Read More
U.S. Home Builder Confidence Continues to Slide in July

Posted by Michael Gerrity 07/19/10 10:16 AM

According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today, home builder confidence in the market for newly built, single-family homes declined ... Read More
Queens New York Home Prices Slip as Sales Surged in Q2

Posted by Michael Gerrity 07/16/10 8:15 AM

According to a new report released this week by Prudential Douglas Elliman, Queens' residential listing inventory slipped as number of sales rose sharply. Read More
Freddie Mac Reports 30-Year Mortgage Rates Still at Record Lows

Posted by Michael Gerrity 07/15/10 1:45 PM

Freddie Mac (OTC:FMCC) today released the results of its Primary Mortgage Market Survey (PMMS) which showed 30-year fixed rate mortgages still hovering at record lows. Read More
Residential Foreclosures Down in First Half but Only Because Lenders OK Short Sales

Posted by Alex Finkelstein 07/15/10 8:00 AM

Numbers don't lie but they often don't tell the whole story, as Irvine, CA-based RealtyTrac acknowledged today. Residential foreclosures in the first half were down 5 percent from the last six months in 2009, Read More
Orlando's June Homes Sales Increase 27% Over June 2009

Posted by Michael Gerrity 07/14/10 4:11 PM

(ORLANDO, FL) -- According to the Orlando Regional Realtor Association (ORRA), strong homebuyer demand continued in June, elevating the level of home sales and increasing the area's month-over-month median sales price for the sixth consecutive month. Read More
Mortgage Applications Dip This Week, Say Latest MBA Survey

Posted by Michael Gerrity 07/14/10 8:58 AM

According the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending July 9, the Market Composite Index decreased 2.9 percent on a seasonally adjusted basis from one week earlier. This week's results include an adjustment to... Read More
South Florida Bank Repossessions up 83% Year-over-year, Driven by New Online Technologies to Clear Foreclosure Inventories Faster

Posted by Michael Gerrity 07/14/10 8:00 AM

Condo Vultures reports that banks are repossessing an average of 4,000 South Florida properties per month in the first half of 2010 ... Read More
Realtors See Strong Increase of International Buyer Activity in U.S.

Posted by Kevin Brass 07/13/10 8:00 AM

After a dip in 2009, international activity in the United States picked up last year, with more agents reporting contacts with foreign shoppers. From April, 2009 to March, 2010, over 28 percent of agents reported contact with international buyers, Read More
Manhattan Residential Rental Market Continues to Firm in Q-2, Says PDE Report

Posted by Michael Gerrity 07/08/10 12:00 PM

According to the latest Manhattan Rental Market Report by Prudential Douglas Elliman of New York, Q-2 showed signs of continued rental market stabilization. Read More
Homebuyer Tax Credits Aid U.S. Home Price Increases

Posted by Michael Gerrity 07/08/10 8:00 AM

According to Clear Capital's latest Home Data Index (HDI), federal homebuyer tax credits magnified springtime price gains as national quarter-over-quarter price increases reach 5.2%; year-over-year prices up 8.8%. Read More
Mortgage Applications on the Rise This Week, Says MBA

Posted by Michael Gerrity 07/07/10 9:09 AM

According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending July 2, the Market Composite Index increased 6.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased... Read More
New York Cracks Down on Mortgage-Rescue Scams

Posted by Alex Finkelstein 07/07/10 8:30 AM

A total 182 so-called foreclosure rescue companies with customers in New York have been sent cease-and-desist letters from the office of New York Attorney General Andrew M. Cuomo, DSNews.com reports. Read More
The Myth of the 'Shadow Inventory'

Posted by Kevin Brass 07/07/10 8:00 AM

Many U.S. real estate executives sound like bad mystery writers these days. The hot topic of discussion is "shadow inventory," a mysterious and frightening figure hovering around the corner ready to stick a shiv in the recovering residential market. Read More
South Florida Foreclosure Filings Drop 49% in Q-2

Posted by Michael Gerrity 07/06/10 12:35 PM

According to a new report by Condo Vultures, lenders filed 49 percent fewer foreclosure actions against borrowers in the tricounty South Florida region in the second quarter of 2010 compared to a year earlier. Read More
U.S. Home Loan Delinquency Rate Increases to 9.2% in May

Posted by Michael Gerrity 07/06/10 11:05 AM

According to Lender Processing Services' (NYSE: LPS) May 2010 Mortgage Monitor Report released today, there was a 2.3 percent month-over-month increase in the nation's home loan delinquency rate to 9.2 percent. Read More
Prison Inmates Con Fed Out of $9 Million in Homebuyer Tax Credits

Posted by Alex Finkelstein 07/06/10 8:00 AM

With nothing to lose and time on their hands, more than 1,200 inmates in U.S. prisons, including 241 serving life sentences, cashed in on the federal government's home purchase tax incentive. Read More
Fannie Mae Gets Tough With Walk-Away Mortgage Defaulters

Posted by Alex Finkelstein 07/05/10 8:01 AM

The good times are gone for residential mortgage defaulters in the U.S. Fannie Mae has just changed the rules of the game for people who walk from their home loans, Read More
U.S. Unemployment Dips to 9.5% in June, Lowest Rate Since June 2009

Posted by Michael Gerrity 07/02/10 9:47 AM

According to the U.S. Department of Labor, total nonfarm payroll employment declined by 125,000 in June, and the unemployment rate edged down to 9.5 percent.The decline in payroll employment reflected a decrease (-225,000) in the number of temporary employees working... Read More
Manhattan Residential Market Improving, Says New Prudential Douglas Elliman Market Report

Posted by Michael Gerrity 07/02/10 8:30 AM

The median sales price of a Manhattan apartment was $899,000 in the second quarter, up 7.6% from $835,700 in the same period a year ago and up 3.6% from $868,000 in the prior quarter. ... Read More
Home Buyer Tax Credit Extended to Sept. 30

Posted by Alex Finkelstein 07/01/10 3:08 PM

After weeks of bickering, Congress extended the $8,000 tax credit for first-time homebuyers and the $6,500 tax credit for second-time buyers by three months to Sept. 30. Read More
Fixed-Rate Mortgages Hit Another Record Low This Week

Posted by Michael Gerrity 07/01/10 3:00 PM

According to Freddie Mac's (NYSE:FRE) latest Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 4.58 percent with an average 0.7 point for the week ending July 1, 2010. Read More
May 2010 U.S. Construction at $841.9 Billion Annual Rate

Posted by Michael Gerrity 07/01/10 10:41 AM

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during May 2010 was estimated at a seasonally adjusted annual rate of $841.9 billion, 0.2 percent (±1.6%) below the revised April estimate of $843.3 billion. The... Read More
Pending Home Sales Plunge 30% in May, Says NAR

Posted by Michael Gerrity 07/01/10 10:00 AM

According to the National Association of Realtors (NAR), the May 2010 Pending Home Sales Index declined on the heels of the spring home sales surge driven by the federal home buyer tax credit program. Read More
Mortgage Refinance Applications Up as Rates Continue to Decline

Posted by Michael Gerrity 06/30/10 4:21 PM

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 25, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 8.8 percent on a seasonally adjusted basis from one week earlier. Read More
Foreclosed Homes Account for 31% of First-Quarter Sales, RealtyTrac Finds

Posted by Alex Finkelstein 06/30/10 12:00 AM

Buyers took advantage of the foreclosed-home market in the first quarter, racking up 31% of all sales ... Read More
Lack of Credit Extension by June 30th Would Dash Hopes of Home Buyers in All 50 States

Posted by NATIONAL ASSOCIATION OF REALTORS 06/29/10 2:12 PM

(WASHINGTON, DC) -- Up to 180,000 home buyers will lose their tax credit through no fault of their own ... Read More
Fort Lauderdale Condo Inventory Surged Over 66% during Last Decade

Posted by Michael Gerrity 06/29/10 1:48 PM

According to Condo Vultures, nearly 5,100 new condominium units were added in Fort Lauderdale's Downtown and Beach neighborhoods during the last real estate boom, increasing the existing inventory by 66 percent in less than a decade. Read More
'Sustainable' Housing Price Recovery Not Shown in April Case/Schiller Home Price Index

Posted by Michael Gerrity 06/29/10 12:42 PM

According to the latest S&P/Case-Shiller Home Price Index, the annual growth rates of all 20 MSAs and the 10- and 20-City Composites improved in April ... Read More
Orlando Builders Buying Up Bargain-Priced Lots for Projected Home Buying Revival

Posted by Alex Finkelstein 06/29/10 8:00 AM

(ORLANDO, FL) -- Do the housing numbers lie in metro Orlando, one of the worst foreclosure-laden and mortgage-stricken markets in the U.S.? Read More
Miami's Fontainebleau Sorrento Sells Last 25 Condos for Fire-Sale Price of $7.2 Million

Posted by Alex Finkelstein 06/28/10 8:00 AM

Without fanfare or hype, the last 25 luxury condos at the 18-story, 311-unit, two-year-old Fontainebleau Sorrento in Miami Beach have been sold for $7.2 million ... Read More
New York State Home Sales Increase 5% in May

Posted by Michael Gerrity 06/25/10 10:42 AM

According to preliminary single-family sales data accumulated by the New York State Association of Realtors, statewide sales of existing single-family homes in New York State increased nearly 5 percent ... Read More
Mortgage Rates Hitting 'Record Lows', Says Freddie Mac

Posted by Michael Gerrity 06/24/10 1:45 PM

According to Freddie Mac's (NYSE:FRE) latest Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 4.69 percent with an average 0.7 point for the week ending June 24, 2010. Read More
Disney Announces New Single-Family Home Community at Walt Disney World Orlando

Posted by Michael Gerrity 06/24/10 10:54 AM

(ORLANDO, FL) -- Disney (NYSE:DIS) has just unveiled Golden Oak, a one-of-a-kind luxury residential resort community offering the unprecedented opportunity to purchase a home at Walt Disney World Resort in Florida. Read More
Government Reports New Home Sales Declined 32.7% in May

Posted by Michael Gerrity 06/23/10 4:01 PM

Sales of new single-family houses in May 2010 were at a seasonally adjusted annual rate of 300,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.This is 32.7 percent (±9.9%)... Read More
New-Home Sales Dip in May as Home Buyer Tax Credit Program Ends in April

Posted by Michael Gerrity 06/23/10 3:48 PM

Sales of newly built, single-family homes declined dramatically in May following the expiration of a popular home buyer tax credit program in the previous month, according to newly released figures by the U.S. Commerce Department. Read More
Mortgage Application Volumes Still Declining, Say MBA

Posted by Michael Gerrity 06/23/10 8:42 AM

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 18, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.9 percent Read More
California Median Home Prices Increase 23.2% in May, Sales up 1.2%

Posted by Michael Gerrity 06/23/10 8:00 AM

According to the California Association of Realtors (C.A.R.), home sales increased 1.2 percent in May in California compared with the same period a year ago, while the median price of an existing home rose 23.2 percent. Read More
Florida Home Sales Rise 18% in May, Condo Sales Up 40% Year-over-Year

Posted by Michael Gerrity 06/22/10 2:40 PM

(ORLANDO, FL) -- According to the latest housing data released by the Florida Association of Realtors, sales of existing homes in Florida rose 18 percent in May, marking 21 months that sales activity has increased in the year-to-year comparison. Read More
Cervera Real Estate to Handle Sales of Miami's 67-Story Marquis Residences; Targets International Buyers

Posted by Michael Gerrity 06/22/10 11:12 AM

(MIAMI, FL) -- Africa-Israel, USA has signed Cervera Real Estate to head sales for the 67-story Marquis Residences as downtown Miami's condo sales start to surge. Read More
South Florida Residential Sellers Coming to Market

Posted by Michael Gerrity 06/22/10 11:00 AM

According to a new report from Condo Vultures, the South Florida residential resale market is starting to shows signs of stabilization, and because of such, an increasing number of sellers are suddenly putting their single-family houses, Read More
Existing-Home Sales Dip 2.2% in May

Posted by Michael Gerrity 06/22/10 10:15 AM

According to the National Association of Realtors , existing-home sales remained at elevated levels in May on buyer response to the tax credit, characterized by stabilizing home prices and historically low mortgage interest rates. Read More
Banks' Profits Shrink as They Write Off $436 Billion in Bad Loans Since 2008, Moody's Reports

Posted by Alex Finkelstein 06/22/10 8:00 AM

Moody's Investors Service sees another year of red ink of the profit-and-loss statements of many U.S. banks. The New York City-based bond ratings agency gives the banking industry a negative outlook for 2010 ... Read More
The Tallest Condo Tower in Western U.S. Opens in Austin

Posted by Michael Gerrity 06/21/10 1:47 PM

Texas' newest landmark building, the 56 story high-rise luxury condominium project called The Austonian opened its doors to its first homeowners this past week. It is located at the corner of 2nd Street and Congress Avenue in the heart of downtown Austin. Read More
U.S. Home Prices Increased in April, Says CoreLogic

Posted by Michael Gerrity 06/21/10 11:16 AM

According to CoreLogic's (NYSE: CLGX) latest Home Price Index (HPI), home prices in the U.S. increased in April, the second consecutive monthly increase.According to the CoreLogic HPI, national home prices, including distressed sales, increased by 2.6 percent in April 2010... Read More
Homebuyer Traffic Takes Nose-Dive in May, Says Campbell Survey

Posted by Michael Gerrity 06/21/10 10:42 AM

According to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions, homebuyer traffic nationwide tumbled in May. Read More
Fed's Ongoing Crackdown on Mortgage Fraud Nets $147 Million in Recovered Funds

Posted by Alex Finkelstein 06/21/10 10:00 AM

The U.S. Justice Department's three-month crackdown on mortgage fraud has netted the government $147 million in recovered funds Read More
A Housing Price Collapse in Queens New York Is Almost Certain

Posted by Keith Jurow 06/21/10 8:00 AM

Many commentators continue to describe the housing market in Queens as surprisingly resilient. Hardly any has warned of a possible collapse. Is this a disservice to both sellers and buyers? Read More
U.S. Government Reports CPI Declined 0.2% in May

Posted by Michael Gerrity 06/17/10 4:08 PM

According to the U.S. Bureau of Labor Statistics, the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.2 percent in May on a seasonally adjusted basis. Over the last 12 months, the index increased 2.0 percent before seasonal adjustment. Read More
Mortgage Rates Remain Relatively Flat This Week

Posted by Michael Gerrity 06/17/10 12:07 PM

According to Freddie Mac's (NYSE:FRE) latest Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 4.75 percent with an average 0.7 point for the week ending June 17, 2010. Read More
56-Day BP Oil Spill Having Major Affect on Bankers, Developers and Hoteliers

Posted by Alex Finkelstein 06/16/10 2:56 PM

The 56-day-old BP oil spill in the Gulf of Mexico is beginning to haunt the nation's residential, commercial and vacation real estate markets. Read More
April Ending of Home Buyer Tax Credits Stalls May's New Home Sales, Says NAHB

Posted by Michael Gerrity 06/16/10 11:33 AM

Nationwide housing starts and issuance of building permits stalled in May following the expiration of a popular home buyer tax credit program, according to data released by the U.S. Commerce Department today. Read More
New Housing Starts Decline 10% in May

Posted by Michael Gerrity 06/16/10 9:40 AM

According to the U.S. Census Bureau and the Department of Housing and Urban Development jointly announced new residential construction statistics for May 2010, ... Read More
Mortgage Applications Up 17% This Week

Posted by Michael Gerrity 06/16/10 8:15 AM

According to the Mortgage Bankers Association (MBA) latest Weekly Mortgage Applications Survey for the week ending June 11th, mortgage loan application volumes increased 17.7 percent on a seasonally adjusted basis from one week earlier. Read More
Home Builder Confidence Index Drops in June

Posted by Michael Gerrity 06/15/10 10:27 AM

According to results of the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today, builder confidence for newly built, single-family homes fell back to February levels, ... Read More
Las Vegas Mob Boss Home Up For Sale

Posted by Kevin Brass 06/15/10 10:22 AM

Billed as the "most infamous mobster house in Sin City history," the late Frank "Lefty" Rosenthal's golf course home in Las Vegas is on the market. Read More
S & P Reports Consumer Credit Defaults Drop in May

Posted by Michael Gerrity 06/15/10 9:11 AM

According to data released today by Standard & Poor's and Experian for the May 2010 S&P/Experian Consumer Credit Default Indices, show that the monthly default rates declined for all five credit lines, bank card default rate declined for the first... Read More
Bel-Air Mansion Sells for 2010 Record Sales Price

Posted by Lauren Beale 06/15/10 8:49 AM

(LOS ANGELES, CA) -- Los Angeles' high-end residential market just got a jump-start: A mammoth French chateau on 2.2 acres in Bel-Air has been sold for the highest price of any U.S. residence so far this year. Read More
New Homes Continue to Shrink in Size, Says U.S. Census Bureau Report

Posted by Michael Gerrity 06/15/10 8:00 AM

According to information about the characteristics of new homes completed in 2009 just released by the U.S. Census Bureau, the size of new single-family homes completed declined last year, dropping to a nationwide average of 2,438 square feet. Read More
3 U.S. Senators Urge Quick Passing of Homebuyer Tax Credit Extension Legislation

Posted by Michael Gerrity 06/14/10 11:15 AM

This past week the National Association of Realtors expressed thanks to three Senators for introducing a measure to extend the present home-buyer tax credit closing deadline to Sept. 30. Read More
Homebuyer Tax Credit Creates 'Ripple Effect' on Orlando's May 2010 Housing Stats

Posted by Michael Gerrity 06/11/10 11:34 AM

(ORLANDO, FL) -- vAccording to the Orlando Regional Realtors Association (ORRA), the Central Florida housing market saw across-the-board increases in sales, new contracts, and pending sales together reflect the broad impact that the homebuyer tax credit and affordability conditions. Read More
Mortgage Rates Remain Historically Low, Says Freddie Mac

Posted by Michael Gerrity 06/11/10 10:00 AM

According to Freddie Mac's (NYSE:FRE) latest Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 4.72 percent with an average 0.7 point for the week ending June 10, 2010 Read More
Why Many U.S. Housing Markets Continue to Weaken

Posted by Keith Jurow 06/11/10 8:00 AM

In the first quarter of this year, the Case-Schiller U.S. National Price Index was 2% higher than in the same quarter a year earlier. Read More
Residential Foreclosures Down 3% in May

Posted by Alex Finkelstein 06/10/10 8:00 AM

Good news on the residential foreclosures front: They're down. The May total was 3% lower than in April, according to the newest tabulations by Irvine, CA-based RealtyTrac. Read More
Mortgage Applications Decrease to a 13-Year Low

Posted by Michael Gerrity 06/09/10 8:30 AM

According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending June 4, the Market Composite Index decreased 12.2 percent on a seasonally adjusted basis from one week earlier. This week's results include an adjustment... Read More
South Florida Foreclosure Filings Drop 49% in May

Posted by Michael Gerrity 06/08/10 10:38 AM

According to a new report by Condo Vultures, the number of foreclosure actions initiated in South Florida in May 2010 plummeted 49 percent on a year-over-year basis to less than 4,250 in the tricounty region. Read More
'Good Wife' Sells to 'Family' Man

Posted by Lauren Beale 06/08/10 10:00 AM

(LOS ANGELES, CA) - "The Good Wife" star Julianna Margulies might have thought "Modern Family" husband Ed O'Neill was kidding when he bid $3,350,001 for her Santa Monica, Calif., house. Read More
Barclays Unloads U.S. Mortgage Servicing Unit to Ocwen for $1.3 Billion

Posted by Alex Finkelstein 06/07/10 8:00 AM

London-based Barclays is out of the U.S. mortgage servicing business. The international banking conglomerate has agreed to sell HomEq Servicing, its U.S. mortgage servicing arm, to Ocwen Loan Servicing, LLC. a division of Ocwen Financial Corp., West Palm Beach, FLOcwen... Read More
U.S. CONDO MARKET ROUNDUP

Posted by Alex Finkelstein 06/04/10 9:00 AM

The auction route is the fastest highway for most lenders sitting on mountains of repossessed condominium and single-family homes, according to Robert Friedman, chairman, Real Estate Disposition Corp., Irvine, Ca. Read More
National Year-Over-Year Home Prices Climb 6.8%, Largest Increase Since July 2006

Posted by Michael Gerrity 06/03/10 8:38 AM

Today Clear Capital released its Home Data Index (HDI) Market Report that showed national year-over-year home price gains climb to 6.8%. Additionally quarter-over-quarter losses are trimmed to -1.8% ... Read More
NAR Reports Pending Home Sales Continue to Surge, Driven by Tax Credits

Posted by Michael Gerrity 06/02/10 10:00 AM

According to the National Association of Realtors (NAR), pending home sales have risen for three consecutive months, reflecting the broad impact of the home buyer tax credit and favorable housing affordability conditions. Read More
Mortgage Refinance Applications Up, Purchase Applications Decline Further

Posted by Michael Gerrity 06/02/10 8:39 AM

According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending May 28, the Market Composite Index increased 0.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index... Read More
1,900 New Miami Condos Taken Back by 3 Lenders in Last 45 Days

Posted by Michael Gerrity 06/02/10 8:00 AM

According to a new report by Miami-based Condo Vultures, LLC, a trio of lenders has taken control of more than 1,900 new unsold condos located in six skyscrapers in Greater Miami since mid-April in three separate transactions. Read More
Is Massive Refinancing During Bubble Years a Ticking Bomb?

Posted by Keith Jurow 06/01/10 1:53 PM

During the four key years of the housing bubble - 2003-2006 - an incredible number of mortgages were refinanced. Read More
U.S. Construction Rate at $869.1 Billion in April 2010, Up 2.7% over March

Posted by Michael Gerrity 06/01/10 10:50 AM

According to the Department of Commerce, construction spending during April 2010 was estimated at a seasonally adjusted annual rate of $869.1 billion, 2.7 percent (±1.4%) above the revised March estimate of $845.9 billion. The April figure is 10.5 percent (±1.6%)... Read More
U.S. Home Loan Delinquency Rate at 8.99%, Says LPS Report

Posted by Michael Gerrity 06/01/10 9:30 AM

According to Lender Processing Services' (NYSE: LPS) newly released Mortgage Monitor Report, stabilization of the nation's home loan delinquency and foreclosure rates remain largely neutralized ... Read More
NAHB Applauds Proposed New 'Residential Construction Lending Act'

Posted by Michael Gerrity 05/28/10 12:18 PM

According to the National Association of Home Builders (NAHB), legislation was introduced yesterday by Reps. Brad Miller (D-N.C.) and original co-sponsors Carolyn Maloney (D-N.Y.) and Joe Baca (D-Calif.) that would help alleviate the severe lack of credit for acquisition, ... Read More